Japanese conversations are known to include a great amount of unexpressed information. At the heart of this kind of communication is the existence of trust assumed amid the interlocutors. Employing the term ‘entrustment’, this paper explores how one particular Japanese formulaic construction, [Noun (da) yo Noun], ‘It’s Noun, you know, Noun’, indexes mutual trust to manage conversational interaction. It is asserted that this meta-pragmatic awareness must be recognized beyond surface interactional patterns distinguished in conversation.